Please excuse the embedded links as the transfer from Slack to HC a few tags go missing, leaving just the urls.
I hope you can decipher.
LT-B1
Please DYOR as I have trusted a source and didn't verify the information which ended up being a little different to the information I was proliferating amongst lepidicans.
Trust but Verify in all circumstances, No exceptions.....
Ok so I did a little more digging and found out a few more salient considerations, such as https://prospectresources.com.au ended up paying SHer's $0.96/share in 2022, so that is why the share price took a nose dive back to a ex-dividend price of $0.12 and been range bound from 7.1c to 22c over the last 12mths.
https://prospectresources.com.au/arcadia-case-study/, for the tidy sum of US$378m which was close to the top of the cycle pricing "Maybe JW can learn a thing or two about timing the market cycle"...!
With this consideration PSC are not in a cashed up position to loan LPD any funding, yet their war chest is still north of $23m and zero debit as of Q3 2023, which indicates they are well positioned financially to continue the drilling program of Omaruru Lithium Project.
The Omaruru Lithium Project was majority owned project of https://osinoresources.com/projects/omaruru-lithium-project/ who have structured a "earn-in agreement" with Prospect Resources who is increasing their earn-in stake from 40% to 51% by this current drilling program JW posted on https://www.linkedin.com/company/lepidico-ltd/posts/?feedView=all.Prospect Resources can increase their stake up to https://www.globenewswire.com/news-release/2022/09/30/2525905/0/en/Osino-Attracts-Respected-ASX-Listed-Lithium-Developer-to-Advance-Its-Lithium-Exploration-License-in-Namibia.html “85%”of the project if Prospect R. decides to increase their stake of the project.
Osino is a Canadian company who held ownership of the https://osinoresources.com/wp-content/uploads/2023/12/Osino-DPM-Investor-Presentation-FINAL.pdf, Twin Hills before selling ownership of Osino Resources Corp to another Canadian outfit by the name of Dundee Precious Metals
Where as Osino is in a better position to become a strategic Partner with the sale of there “Twin Hills” project
https://osinoresources.com/wp-content/uploads/2023/12/2023_12_18_OSI-PR_DPM-Transaction-.pdf. for US$214m.
But https://osinoresources.com/wpcontent/uploads/2023/12/2023_12_18_OSI-PR_DPM-Transaction-.pdf and all 8,000 km2 exploration license's pertaining to ORS.
Now I did consider the Omaruru project to be spun-off into a separate company, yet from the superficial digging I did do didn't revel any such entity. Which I considered was evident in the Osino LinkedIn video as the questions did arise about the other lic's to include the Eureka Gold Project and Ondundu Gold Project. (No mention of the Omaruru Lithium Project), but IMO it was implied everything went into the sale to solidify a win win for all parties which included all the sweetness to include all projects under ORS into the transaction.
https://www.linkedin.com/feed/update/urn:li:activity:7142954689846796288/.
I was more than hoping one of the above mentioned companies "Prospect Resources, Osino Resources, and gold miner Dundee Precious Metals" would be one of the funders for LPD's Karibib mine.
1. Osino will complete the acquisition with DPM in March 2024.
2. DMP is a gold miner, explorer, developer and producer. That will allow Prospect Resources complete their drilling of Omaruru to obtain 51% of mining lease, and although DPM has US$563m and no debt IMO they will stick to their knitting.
3. So bringing back round full circle Prospect Resources is back in view as the Strategic Partner. But don't expect their drilling results until March and that still leaves a massive hole in the balance sheet of the Karibib Mine money.
So I conclude it's a pineapple.
I have no idea how our Strategic Partner is going to afford to fund or part thereof our Namibian asset, if indeed our "Strategic Partner" is Prospect Resources and they are an investor. Unless banks loan capital on the back of PR's CV, when consideration is given to their past track record of selling Arcadia, I can honestly say I have not a clue as where their investment capital will come from.
I'm not sure how much money Osino 'soon to become DPM', will settle for the next 34% stake of Omaruru project, but it will be higher than PR's earn-in agreement.....The only one out of the three with any money is DPM and they mine gold.
Maybe they are looking to diversify their portfolio yet I didn't see it in their growth strategy literature.
Prospect Resources :— Strategic Partner or no LPD still needs an investor for the Namibian piece.
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